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Feb 1, 2013
02/13
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today the senate agreed with the house and passed an extension of the debt ceiling, raised the debt ceiling for the future. and i didn't vote for that. there were no cuts included in that bill. the only cut that we have ever come up with is this 1.2 trillion, because the committee, the special select committee couldn't come up with a spending reductions, were now going to have as part as sequestration. i don't really believe in across the board cuts. i think that's irresponsible. but in the absence of cutting spending someplace to replace those 1.2 -- >> got to take it where you get it. >> it's not the only way we're going to get it. >> it's never a good time to cut spending. it's one of the things i've learned. i guess i saw it years ago when i worked down there. but reporting on this thing night after night, one of the things i learned, senator moran, is it's never a good time to cut spending. so march 1st is an interesting deadline. >> i'm not voting to set the sequester aside unless we cut the 1.2 trillion someplace else. >> good luck on that. senator jerry moran of kansas, thank you ve
today the senate agreed with the house and passed an extension of the debt ceiling, raised the debt ceiling for the future. and i didn't vote for that. there were no cuts included in that bill. the only cut that we have ever come up with is this 1.2 trillion, because the committee, the special select committee couldn't come up with a spending reductions, were now going to have as part as sequestration. i don't really believe in across the board cuts. i think that's irresponsible. but in the...
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Feb 1, 2013
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extension of the debt ceiling for two years. clarification on europe. first, the recession needs to stabilize, but beyond that, policy initiatives clearly indicate a road to political and fiscal and banking reforms and an indication that europe is serious about improving competitiveness. resumption of growth in emerging economies, like china, and finally the federal successfully engineering a modest increase in interest rates without unleashing runaway inflation. maria, these are tall orders, i know, but resolution of all these issues would be a huge boost to business confidence, capital expenditures and hiring would increase dramatically and revenues would rise, and that's what we need, maria. back to you. >> that's some list, bob. >> pretty ambitious. >> we'll be watching that. not everybody is buying into this bull market theory, by the way. pimco's bill gross is actually warning investors to be afraid, and i mean very afraid, of how inflation and the flood of cheap money will impact investments from here on out. bill joins me exclusively from pimco
extension of the debt ceiling for two years. clarification on europe. first, the recession needs to stabilize, but beyond that, policy initiatives clearly indicate a road to political and fiscal and banking reforms and an indication that europe is serious about improving competitiveness. resumption of growth in emerging economies, like china, and finally the federal successfully engineering a modest increase in interest rates without unleashing runaway inflation. maria, these are tall orders, i...
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Feb 1, 2013
02/13
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you know, you've got the sequester, right, coming up march 1st, kicked the can a bit on raising the debt ceiling. >> want to watch the four ps, production, politics, profits, along as profit numbers come through, the market can lift. the personal income, the jobs number and the production is the industrial expansion. this last quarter was low, but mine us 0.1% because of defense reduction. other parts of the economy are doing well, especially the consumer. >> let's talk about what took us here. bank of america doing very well, verizon, at&t. you had the financials and the telecom stocks as the leadership groups. merck was down 2%. exxon down. three dow stocks were actually down. what happened there and what are you seeing at the end of the kay? >> finally seeing the laggards catching up and telecoms have done okay during this period, but i think what uruguay seeing is the overall economic data with the exception of the weaker gkp number. all the other data was very strong and all the companies are pulling up with that. >> and then with that, swing it around, what happened there. dts. wha
you know, you've got the sequester, right, coming up march 1st, kicked the can a bit on raising the debt ceiling. >> want to watch the four ps, production, politics, profits, along as profit numbers come through, the market can lift. the personal income, the jobs number and the production is the industrial expansion. this last quarter was low, but mine us 0.1% because of defense reduction. other parts of the economy are doing well, especially the consumer. >> let's talk about what...
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Feb 5, 2013
02/13
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president obama has signed a debt ceiling suspension into law. the measure allows the government to keep borrowing to pay its bills. it puts off the next congressional battle over the debt ceiling until may. boeing is asking the faa for permission to resume test flights of its grounded 787 jet. it wants to test the batteries and other components in flight since certain conditions can't be simulated on the ground. the faa is evaluating boeing's request. >>> in wall street 2013 rally interrupted with a major averages suffering their worst one-day loss in a year on monday's trading. the last hour we spoke to goldman's jim o'neil about the prospects of making money in this market. >> i think to sell if you're a medium term player is probably not a smart move. but if you've made all the gains, to take some off the table isn't a crazy idea either. >> joining us now is nouriel roubini, chairman and co-founder of roubini global economics. you're not like a market master, maybe like a market jedi. plus andrew still here from fortune magazine. the one and
president obama has signed a debt ceiling suspension into law. the measure allows the government to keep borrowing to pay its bills. it puts off the next congressional battle over the debt ceiling until may. boeing is asking the faa for permission to resume test flights of its grounded 787 jet. it wants to test the batteries and other components in flight since certain conditions can't be simulated on the ground. the faa is evaluating boeing's request. >>> in wall street 2013 rally...
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Feb 1, 2013
02/13
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quick thought about this, can we get rid of the debt ceiling? >> iveng what we're seeing is some of the political brinksman ship around the debt ceiling may be a thing of the past. the renls certainly got hurt politically trying to use that tool as leverage. 6/hopefully it's an indication that that particular kind of brinksman ship is behind us. >> we'll see. i never put it beyond politicians. when the story changes, they'll change. julie, now win promise you can have your coffee break or tea break. try tea, it's very nice. english breakfast. very good thing to have first thing in the morning. we'll come back to you, jules, julia. >>> in the united states, in addition to the jobs report, there are some other pieces of the economic data. the final look at january consumer sentiment is out at 9:55 a.m. eastern. on the corporate front, exxon mobil, chevron, merck, tyson foods all report earnings before the bell. january sales are also out. they're expected to be seen at the strong rate compared to last year. this is all thanks to pent up demand as
quick thought about this, can we get rid of the debt ceiling? >> iveng what we're seeing is some of the political brinksman ship around the debt ceiling may be a thing of the past. the renls certainly got hurt politically trying to use that tool as leverage. 6/hopefully it's an indication that that particular kind of brinksman ship is behind us. >> we'll see. i never put it beyond politicians. when the story changes, they'll change. julie, now win promise you can have your coffee...
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Feb 4, 2013
02/13
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. >> so, now we haven't seen the downgrade and now we're waiting on the next level of debt ceiling debate or the sequestration and you start to see this headline. is this a warning to the other rating agencies -- >> trying to smack them down before -- >> if i were a conspiracy guy, that's -- >> if you were. lay it out. >> don't paint me with that brush. but if i were, this is what i would be saying. >> let's let that sit out there, just sit there. one of wall street's most well-known banking analysts surging you to buy all of the banks. here's what he said earlier today. >> you should be buying goldman sachs, bank of america, u.s. bank corp, you should be buying comerica. what you are going to get is continuous upearnings, inkreeflss in dividends, higher stock buy-back programs and record results. >> was he bullish? karen says to buy one bank stock in particular and she is turning her back on her belove fd jamie dimon. >> i'm not turning my back on him. you know, it's still as strong between us as it ever was, only -- >> should we slap another ceo in that little bubble? >> no, no, you kno
. >> so, now we haven't seen the downgrade and now we're waiting on the next level of debt ceiling debate or the sequestration and you start to see this headline. is this a warning to the other rating agencies -- >> trying to smack them down before -- >> if i were a conspiracy guy, that's -- >> if you were. lay it out. >> don't paint me with that brush. but if i were, this is what i would be saying. >> let's let that sit out there, just sit there. one of wall...
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Feb 6, 2013
02/13
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but i think that maybe part of what we are seeing on the debt ceiling is the last fight over the debt ceiling back in the summer of 2011 turned out to be a terrible self-inflicted wound for the american economy. we saw consumer confidence plummets, our debt got downgraded. i think that's part of why i think even republicans who care very much about spending are nervous to use as a bargaining chip again, precisely we saw how damaging bringing into question the credit worthiness of the american government was. so am hopeful that we won't keep fighting over this, that we'll have the right fight, which is what she' just any become whicho about the deficit, and not should we pay the bill. i think that's a terrible what. >> and there's a very interesting question about whether, in retrospect, whether republicans leveraging the debt limit in the summer of 2011 could get a bill that cut spending by one to $2 trillion going forward, whether, in fact, that was worth it. because what they did was they introduce liquidity rates by saying hey, if you don't cut spending when not going to vote for a
but i think that maybe part of what we are seeing on the debt ceiling is the last fight over the debt ceiling back in the summer of 2011 turned out to be a terrible self-inflicted wound for the american economy. we saw consumer confidence plummets, our debt got downgraded. i think that's part of why i think even republicans who care very much about spending are nervous to use as a bargaining chip again, precisely we saw how damaging bringing into question the credit worthiness of the american...
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Feb 6, 2013
02/13
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we agree on debt ceiling in terms of fiscal, that won't get breached. we're less certain about the continuing resolutions. we think there will be argument and sequestration a drag. >> we agree with that. >> from a growth perspective, a little more than 2%. housing is key. we see the manufacturing piece as positive, not necessarily on employment side because there's such great productivity in u.s. manufacturing and energy will add over time. there's definitely positives. still, this year, the fiscal issues -- >> i have to break in -- >> more breaking news. >> is this monopoly. >> from john harwood this morning, obama is set to nominate sally jewel extensiecu of rei equipment. >> that is so fitting. >> outdoor company for interior secretary. >> you were going to say something? >> we are a big believer in long term growth, especially energy sector. we just bought dahlman rose an investment bank focused on the natural supply chain and think there's huge growth in the capital for small companies and energy sector in particular and think there's a cyclical bo
we agree on debt ceiling in terms of fiscal, that won't get breached. we're less certain about the continuing resolutions. we think there will be argument and sequestration a drag. >> we agree with that. >> from a growth perspective, a little more than 2%. housing is key. we see the manufacturing piece as positive, not necessarily on employment side because there's such great productivity in u.s. manufacturing and energy will add over time. there's definitely positives. still, this...
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Feb 1, 2013
02/13
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. >> your thoughts on the debt ceiling. >> no. >> you think we are in danger of a bond bubble? >> i don't even know what that is. >> which mario has done a better job monti or draghi? >> monti or draghi? you know i have no idea what you're talking about, so -- >> what's your favorite show on television? >> hmm. "american greed." >> really? >> yeah. >> can you open that up for me? >> oh! >> you just made my day. >> i wish we could show more of that stuff. that was michael james, guys. and he was touched. because he tweets about "american greed" all the time. and i went on to talk to him about his favorite show and he's like god forgive me, but the one when the preacher steals from the church, and he went through this whole thing about how that's his favorite show. matt burke went to harvard he knows his stuff with the ravens and the kicker for the niners, he's a cramer guy and he's a conservative aaa-rated tax-free bond guy. >> i feel so bad for these guys because it's kind of like talking to me about football. if you ask me those questions, like oh, yeah. >> they would get angr
. >> your thoughts on the debt ceiling. >> no. >> you think we are in danger of a bond bubble? >> i don't even know what that is. >> which mario has done a better job monti or draghi? >> monti or draghi? you know i have no idea what you're talking about, so -- >> what's your favorite show on television? >> hmm. "american greed." >> really? >> yeah. >> can you open that up for me? >> oh! >> you just made my...
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Feb 4, 2013
02/13
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ceiling. that's good news for markets because it shows politicians are not going to play chicken with the one thing that could really make a difference to the u.s. economy. it does suggest, though, that both the sequester and the continuing resolution might be places where opposition republicans take the opportunity to try to extract some containment trt white house. >> and what's your -- as you've priced that in, what do you expect, actually, the to be the outcome as we head into march towards the end of the month? is there more fiscal drag related tr these talks? >> we still see economic up sides for the u.s. citi economists have improved their growth forecast overall, but this isn't helping and it's not necessarily helping business confidence. what we think markets may not be prepared for is the fact that ee quest ragz is now likely to kick in. these are comments from both parties suggested that they be willing to allow this to happen. it may be the lesser of the evils. >> what are we talki
ceiling. that's good news for markets because it shows politicians are not going to play chicken with the one thing that could really make a difference to the u.s. economy. it does suggest, though, that both the sequester and the continuing resolution might be places where opposition republicans take the opportunity to try to extract some containment trt white house. >> and what's your -- as you've priced that in, what do you expect, actually, the to be the outcome as we head into march...
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Feb 1, 2013
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ceiling which we did we would unleash all of this economic activity in the first quarter. it happened already. it happened in the third quarter. happened in the fourth quarter. and we know now that gdp for all of 2012 as it stands now, 1.5%, not very good. we didn't help anything back to have a burst of activity coming forward which is why i think economists still project the first quarter another sub par quarter around 1.5. >> you're saying the phenomenon they're talking about as uncertainty was more of a tax issue only pulling the money forward to pay the lower tax rate. second issue, ghost busters. no. second issue is rotation. this is the number one topic. and what says jim bianco on the rotation conventional wisdom? >> you just hinted it. it was all about taxes in late december. everybody pulls forward. bonuses, distributions, 401(k), whatever, paid in late december. yes a lot of money went into stocks. more money went into bonds. even more money went into money market funds. everybody got money in january. because everybody got paid in late december as opposed to spr
ceiling which we did we would unleash all of this economic activity in the first quarter. it happened already. it happened in the third quarter. happened in the fourth quarter. and we know now that gdp for all of 2012 as it stands now, 1.5%, not very good. we didn't help anything back to have a burst of activity coming forward which is why i think economists still project the first quarter another sub par quarter around 1.5. >> you're saying the phenomenon they're talking about as...
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Feb 8, 2013
02/13
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it was the price that they paid to avoid the fight over the debt ceiling and potential government shutdown. >> reporter: the president's state of the union will also include a pitch for more job creation. and it will be cast as part of an overall plan to make the economy work for everyone. >> the question that i will ask myself on every item, on every issue is, is this helping to make sure that everybody's got a fair shot and everybody is doing their fair share and everybody is playing by the same rules, because i believe that is a growth agenda. >> reporter: the republican response will be delivered by florida's marco rubio, a strong supporter of immigration reform. rubio says he'll stress how free enterprise can help strengthen the middle class. darren gersh, "n.b.r.," washington. >> susie: more uncertainty today about when boeing's dreamliner will be cleared to fly. the nation's top transportation safety official, is now questioning the testing process used to assess the safety of lithium ion batteries in boeing 787 planes. the national transportation safety board says the f.a.a. has to
it was the price that they paid to avoid the fight over the debt ceiling and potential government shutdown. >> reporter: the president's state of the union will also include a pitch for more job creation. and it will be cast as part of an overall plan to make the economy work for everyone. >> the question that i will ask myself on every item, on every issue is, is this helping to make sure that everybody's got a fair shot and everybody is doing their fair share and everybody is...
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ceiling is now looking for that same congress to bail him out. president obama desperate for help with the trillion dollars sequester that was the bright idea of the white house. the president today made his plea for help in deferring the onset of the sequestered for another few months. it sounds a lot more like an order for more of the same short term, small minded fakes that has become the way washington of late. >> this congress cannot act immediately on a bigger package. if they cannot get a bigger package done by that time the sequester is scheduled fox business to affect then i believe they should at least passed a smaller package of spending cuts and tax reforms that would delay the economically damaging effects of a sequester for fear -- few more months. lou: headed in the right direction icaria statement considering that it contracted the last quarter, and as he is fond of doing, insisted that republicans give him something for the privilege of doing his bidding. he wants more revenue. tonight we focus on the economy, congressional budge
ceiling is now looking for that same congress to bail him out. president obama desperate for help with the trillion dollars sequester that was the bright idea of the white house. the president today made his plea for help in deferring the onset of the sequestered for another few months. it sounds a lot more like an order for more of the same short term, small minded fakes that has become the way washington of late. >> this congress cannot act immediately on a bigger package. if they...
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Feb 8, 2013
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so i think the concern about article you should ourselves in the foot, you know, not raise the debt ceiling or not come to an agreement on various things. one of the main things, i am still i think more nervous about europe and some people, precisely because though interest rates are down in some of the most troubled countries, their troubles are still there. so i don't think that's a problem that has gone away. i do think we still have a risk to the economy. unfortunately, that does he is heading off the robust fast recovery. i think 2013 will be better than 2012. i wish i could tell you it will be really, really good because that's what we dashed we need. >> i'm not a forecaster. i don't have a ph.d in economics. i specialize in economic policy. so i tried to be a good consumer of other forecasts. one thing i've learned from that is frankly i don't trust any macro forecast that goes beyond six months. because i don't think anyone is any -- they're just guessing beyond that. i think we probably, at least i would have similar reactions. i am still very concerned about the risk posed by euro
so i think the concern about article you should ourselves in the foot, you know, not raise the debt ceiling or not come to an agreement on various things. one of the main things, i am still i think more nervous about europe and some people, precisely because though interest rates are down in some of the most troubled countries, their troubles are still there. so i don't think that's a problem that has gone away. i do think we still have a risk to the economy. unfortunately, that does he is...
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Feb 6, 2013
02/13
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in washington, over the past few months, our attention has been on cliffs, debt ceilings, budgets, deadlines, and negotiations. all of this is extremely important. because i don't think there's any substitute for getting our fiscal house in order. there's no greater moral imperative than to reduce the mountain of debt that is facing us, our children, and theirs, and our house republican majority stands ready for the president and his party to join us in actually tackling the big problems facing this country. but today i'd like to focus on what lies beyond the fiscal debate. and over the next two years, our house majority will pursue an agenda that is based on a shared vision of creating the conditions of health, happiness, and prosperity, for more americans and their families. and to restrain washington from interfering in those pursuits. we'll advance proposals aimed at producing results in areas like education, health health, innovation, and job growth. our solutions will be based on the conservative principles of self-reliance, faith in the individual, trust in family, and accountability
in washington, over the past few months, our attention has been on cliffs, debt ceilings, budgets, deadlines, and negotiations. all of this is extremely important. because i don't think there's any substitute for getting our fiscal house in order. there's no greater moral imperative than to reduce the mountain of debt that is facing us, our children, and theirs, and our house republican majority stands ready for the president and his party to join us in actually tackling the big problems facing...
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i think they will do the same thing on the upcoming debt ceiling and sequestration. ashley: so if we do have this pullback after the state of the union, jeff, what sectors or stocks in particular do you like? >> i actually like all the sectors except the consumer staples. a lot of portfolio managers, professional money has been hiding out in the consumer staples because they were worried about the upcoming election, the fiscal cliff, the debt ceiling, china slowing, you name it, dysfunctional government. now it has become more apparent our dysfunctional government has become a little bit less dysfunctional i think investors will start to have to look at the fundamentals. i think the fundamentals with the housing situation, the automobile strength i think it is going to come to the fore. tracy: i hope you're right, jeff saut, with raymond james. thank you very much, sir. >> you bet. ashley: jeff says when housing is healthy and automobile industry is healthy that's always a good sign for a solid recovery. tracy: he is not wrong, right? they do kumbaya at the last minu
i think they will do the same thing on the upcoming debt ceiling and sequestration. ashley: so if we do have this pullback after the state of the union, jeff, what sectors or stocks in particular do you like? >> i actually like all the sectors except the consumer staples. a lot of portfolio managers, professional money has been hiding out in the consumer staples because they were worried about the upcoming election, the fiscal cliff, the debt ceiling, china slowing, you name it,...
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Feb 2, 2013
02/13
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and we have the best to come yet because we have to the side of the debt ceiling and spending. and so this is where we really need leadership, which we were used to. i tend to be an optimist about the united states because people gave up on us of vietnam's, on the watergate crisis, and we came charging back, and that think we will do it here. it would be nice if we did not have to go to the clef each time to do it. >> you know, and it began, when you start talking about the kind of relationships and leadership, you know, we still seem to have this atmosphere where people talk more at each other than trying to find some common ground, some common goal in getting it done. you broke still hold goal of growth and jobs, and that is the answer to all of this. you also talked a lot about contagion. now, we all, you know, a sense that if the europeans situation got worse and they are representing 23% of world gdp, you know, the effect that it is going to have on the united states, india, brazil is going to be real. and so with 40 percent of their exports coming year to the united state
and we have the best to come yet because we have to the side of the debt ceiling and spending. and so this is where we really need leadership, which we were used to. i tend to be an optimist about the united states because people gave up on us of vietnam's, on the watergate crisis, and we came charging back, and that think we will do it here. it would be nice if we did not have to go to the clef each time to do it. >> you know, and it began, when you start talking about the kind of...
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i think my biggest concern is we move into february and really up through april is the debt ceiling and what congress is going to do about that. and particularly, one number that was interesting this week was personal income and spending. it was a great number, but when you look forward, my concern is the new tax policies that are in place. and that amount of money may not be in consumers' pockets going forward. so it's been a great rally here in january. but i look for a pullback and i think we could see a 5% pullback when you look at interest rates hovering around 200 basis points, can't really pop any higher than that from a yield standpoint. i agree a correction is in the air and it is something we have to take a little pause, see where we're at and where we may go going forward. liz: yeah, i mean, we can't ignore the fact -- i want to check it because it changes moment by moment -- but the vix just at 13, straddling there? i mean alan you are looking at an energy and commodities picture over there. but when there is very little fear, and rising stocks, rising commodities, and a fal
i think my biggest concern is we move into february and really up through april is the debt ceiling and what congress is going to do about that. and particularly, one number that was interesting this week was personal income and spending. it was a great number, but when you look forward, my concern is the new tax policies that are in place. and that amount of money may not be in consumers' pockets going forward. so it's been a great rally here in january. but i look for a pullback and i think...
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Feb 2, 2013
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ceiling battles? will all of these numbers go out the window? >> well i think the biggest problem this country has is debt. eventually debt has to be paid back and the problem is we adding three billion a day to the deficit, and i'm just worried that one day we're going to wake up and the market's eyes are going to open up and say wait a minute, look at all these debt and start hitting the wrong way. but look. so far so good. for whatever reason the market likes what it sees, and i never argue with the market. it's kind of stupid to do that. i think you would be run over by a train if you bet against it right now. >> heather: gary kaltbaum joining us. thank you so much. we appreciate your insight as always. >> my pleasure. thank you. >> gregg: so he gave us the barney cam. remember that, and he was by president bush's side throughout his eight years in the white house. what the former president is now saying about his beloved scottish terrier. yeah the barney cam. >> heather: hours before the big game
ceiling battles? will all of these numbers go out the window? >> well i think the biggest problem this country has is debt. eventually debt has to be paid back and the problem is we adding three billion a day to the deficit, and i'm just worried that one day we're going to wake up and the market's eyes are going to open up and say wait a minute, look at all these debt and start hitting the wrong way. but look. so far so good. for whatever reason the market likes what it sees, and i never...
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Feb 2, 2013
02/13
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i think that is part of what we're seeing on the debt ceiling. the last fight over the debt ceiling back in the summer of 2011. it turned out to be a terrible self-inflicted wound. our debt got down graded. i think that is part of why -- even republicans who care very much about spending are nervous to use that as a bargaining chip again. we saw how damaging bringing into question the credit worthiness of the government. the fight should not be should we pay the bill? >> there is an interesting question about in retrospect if republicans leveraging the debt limit to get a bill that cut spending by $1 to $2 trillion going forward whether that was worth it? they introduced liquidity risk. if you don't cut spending we're not going to vote for a debt limit increase. it worked. the president agreed to cut the spending by a significant amount. now, would you like that negotiation had resulted from not having made that threat? absolutely. but do you think it would have occurred? there's the difference. i would never be one to advocate that congress shou
i think that is part of what we're seeing on the debt ceiling. the last fight over the debt ceiling back in the summer of 2011. it turned out to be a terrible self-inflicted wound. our debt got down graded. i think that is part of why -- even republicans who care very much about spending are nervous to use that as a bargaining chip again. we saw how damaging bringing into question the credit worthiness of the government. the fight should not be should we pay the bill? >> there is an...
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Feb 5, 2013
02/13
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ceiling decision. which shouldn't be a decision. and all you have been hearing from the majority in the house and the republicans in the senate is austerity, austerity, cuts, cuts and avoiding the whole discussion of the fact that those -- that attitude and philosophy is only going to worsen the economy if the sequestration goes through, that is 660,000 jobs lost the first year and the balancing act is about creating revenue and creating revenue from sources that should be on the table, but aren't being discussed on the table. balancing act is about investment in this term with jobs, education, r&d's in order to grow and stin the recovery we are on. investment in this term. and we all recognize the deficit is an issue, but an issue over a long-term and the balancing act by repealing sequestration, creates for us in this country an opportunity to continue to recover and stabilize our economy, invest in things that we need for the future and put on the table revenue that is not there that needs to be par
ceiling decision. which shouldn't be a decision. and all you have been hearing from the majority in the house and the republicans in the senate is austerity, austerity, cuts, cuts and avoiding the whole discussion of the fact that those -- that attitude and philosophy is only going to worsen the economy if the sequestration goes through, that is 660,000 jobs lost the first year and the balancing act is about creating revenue and creating revenue from sources that should be on the table, but...
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Feb 1, 2013
02/13
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"washington post" what was the outcome of the senate vote on the bill to suspend the debt ceiling until may 19. in surprising? >> not particularly, no. the vote 64-34. they made it to spare. most republicans voted no, which was not necessarily surprising since republicans don't like to mess around with the debt limit. but democrats got enough support from the moderate republicans like sue san colins to put it over the edge and take the issue off the table. we're told until at least august. >> now the bill heads to the president's desk. what is he going to do with it? >> he's going sign it. he doesn't want to have a debt limit fight right now. the interesting thing about this, it is the first time that we have ever just suspended enforcement of the debt limit. it's still $16.4 trillion. normally in the celebration we're in now, we're against the debt is at the limit. we just raise the limit. but house republicans didn't want to vote for a higher limit. they voted to suspend the limit until may 18th. at that time, the debt limit will automatically take in to account the additional borrowi
"washington post" what was the outcome of the senate vote on the bill to suspend the debt ceiling until may 19. in surprising? >> not particularly, no. the vote 64-34. they made it to spare. most republicans voted no, which was not necessarily surprising since republicans don't like to mess around with the debt limit. but democrats got enough support from the moderate republicans like sue san colins to put it over the edge and take the issue off the table. we're told until at...
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Feb 2, 2013
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we did not go over the fiscal cliff and we did not hit the debt ceiling. evidence is piling up. >> that's true. here is the thing that struck me about hagel hearings, it seemed at times that chuck hagel was surprised that these people were not happy with him. it's as if he did not read a newspaper in month. >> his response to the surge question. mccain is the biggest supporter of the surge, he led it. chuck hagel disagreed and mccain seems to be right. and hagel looked surprised by the question. in defense of molly's story and washington is getting better. that was not about dysfunction of washington, the two of them just do not like each other. that has nothing to do do with the broader things washington. the issue matrix is changing a bit. what we with saw in 2009 and 2010, when health care and economy were on the table, those are where the parties are fundamentally divided. that is going to be true. but the immigration, there's not the same divide with them. so it's not a polarizing issue with john kerry. part of the reason we are seeing less dysfunctio
we did not go over the fiscal cliff and we did not hit the debt ceiling. evidence is piling up. >> that's true. here is the thing that struck me about hagel hearings, it seemed at times that chuck hagel was surprised that these people were not happy with him. it's as if he did not read a newspaper in month. >> his response to the surge question. mccain is the biggest supporter of the surge, he led it. chuck hagel disagreed and mccain seems to be right. and hagel looked surprised by...
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we have avoided the fiscal cliff posted on the debt ceiling. earnings are decent, decent economic indicators here and outside the u.s. on balance is good, not everyone of them. we have central bankers all over the world, but begging for reflation putting money in the system and a lot of cash getting zero return and those things i think are the reason the stock is likely to continue going. connell: that is the last one i want to pick up on because reading your most recent numbers is lack of tolerance for the cash balances giving a zero return, so people do look and say i can't get a return for a decent yield on anything, so i would rather be in stocks than any kind of fixed income class. if any of that changing in the future, and if so at what point? interest rates have to go up some point, don't they? >> i think they will continue to creep higher, but they can't go a lot higher because the economy would then weekend. so i think as we globalize and the rate race will continue hig, but a lot of cash out there saying when things were volatile in t
we have avoided the fiscal cliff posted on the debt ceiling. earnings are decent, decent economic indicators here and outside the u.s. on balance is good, not everyone of them. we have central bankers all over the world, but begging for reflation putting money in the system and a lot of cash getting zero return and those things i think are the reason the stock is likely to continue going. connell: that is the last one i want to pick up on because reading your most recent numbers is lack of...
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the debt ceiling continues to go up and the overall debt. they are very concerned about all of those things. lori: do you think washington has the best interests of small business at heart? >> well, i hope so. the unfortunate part is we are seeing it in the administration. it continues to attack small business. washington has a spending problem, not a revenue problem. we hear about this every single week. lori: you point out that many small businesses do not have lawyers or lobbyists that focus on this. the list goes on and on. that is a serious problem. a serious disadvantage for them, correct? >> exactly. they do not have the resources. that is one of the reasons why we are trying to provide the voice for small businesses. we need to be the advocate for small businesses here in washington. lori: you look at our ballooning national debt in the battle over the current deficit. what is the best outcome? >> that would be for the federal government to reduce spending. that is just all there is to it. lori: where exactly? i have to interrupt you
the debt ceiling continues to go up and the overall debt. they are very concerned about all of those things. lori: do you think washington has the best interests of small business at heart? >> well, i hope so. the unfortunate part is we are seeing it in the administration. it continues to attack small business. washington has a spending problem, not a revenue problem. we hear about this every single week. lori: you point out that many small businesses do not have lawyers or lobbyists that...
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Feb 6, 2013
02/13
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very briefly, were headed tersely perfect storm of sequestration in the debt ceiling decision, which shouldn't really be a decision. all you've been hearing for the majority in the house from republicans in the senate is austerity, cuts and avoided the whole discussion of the fact that attitude and philosophy is only going to worsen the economy. if sequestration goes through that's about 660,000 jobs lost the first year in the balancing act is about creating revenue. creating revenue from sources that should be on the table that are being discussed on the table. the balancing act is a bad investment in this term with jobs, education, r&d, things we need to grow and sustain the recovery we are on. so it's an investment in this term and we recognize the deficit is an issue of our long-term than the balancing act repealing sequestration creates in this country an opportunity to continue to recover and stabilize our economy, advice and thanks for the future and put on the table of revenue that is not data needs to be part of the revenue generation in order to do with the deficit issue st
very briefly, were headed tersely perfect storm of sequestration in the debt ceiling decision, which shouldn't really be a decision. all you've been hearing for the majority in the house from republicans in the senate is austerity, cuts and avoided the whole discussion of the fact that attitude and philosophy is only going to worsen the economy. if sequestration goes through that's about 660,000 jobs lost the first year in the balancing act is about creating revenue. creating revenue from...
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ceiling debate, take the pick, and we fell off the cliff. do you see that happening this year? >> after the election in germany this fall, yes, i expect things will be bad in the world economy. cheryl: you mentioned europe four times now. >> yeah, i mean, there's going to be a lot of good news, and she's got one of the largest economies in the world. her central bank in europe is printing money as well now. everybody's printing money. cheryl, it can't go on. it's artificial. it's a pool of par dies. if it's based on printing presses, that's a bad theme. cheryl: the lost decade. gym -- jim rogers, thank you very much. congratulations on the book. >> thank youings thank you, make that two lost decades. cheryl: that's right, thank you. dennis: the dow is now at 13999, but they will be right some day. all right, looks like the housing recovery could be for real. december home prices making the highest leap in six and a half years, this as a third of listings in some markets, washington, d.c., denver, they are selling in two weeks or less. brian
ceiling debate, take the pick, and we fell off the cliff. do you see that happening this year? >> after the election in germany this fall, yes, i expect things will be bad in the world economy. cheryl: you mentioned europe four times now. >> yeah, i mean, there's going to be a lot of good news, and she's got one of the largest economies in the world. her central bank in europe is printing money as well now. everybody's printing money. cheryl, it can't go on. it's artificial. it's a...
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tracy: we still have they a debt ceiling in may, sequester coming up anytime soon now. on the flipside though you are even suggesting will be some m&a activity going on this coming year. of course housing is looking really good. >> yeah. certainly there are a lot of key things working for the economy right now. housing one of them. certainly manufacturing. starting to really move and of course, you know the cheap energy that we enjoy. putting that all together we're certainly, you know, trying to head into what would be a, you know, a first year of an austerity year, right? we are going it see some government cutbacks with many so what of a running head start. so i think that is good news. like i said, we've seen some tax increases. i would like to see spending reports as a result of these new taxes. tracy: right. >> in place. we'll have to see how that works out. and of course then sequestration which, you know, paul ryan and other republicans are braced for going ahead and tripping over it. so that could amount to roughly a 3% cut in government spending. tracy: jack,
tracy: we still have they a debt ceiling in may, sequester coming up anytime soon now. on the flipside though you are even suggesting will be some m&a activity going on this coming year. of course housing is looking really good. >> yeah. certainly there are a lot of key things working for the economy right now. housing one of them. certainly manufacturing. starting to really move and of course, you know the cheap energy that we enjoy. putting that all together we're certainly, you...
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Feb 7, 2013
02/13
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they have card to play they didn't have to play in the debt ceiling. martha: how do you expect that to play out? do you think they can hold the line on it and get significant spending cuts that a lot of folks in this country wanted to see first time around? >> republicans have become good at caving. i think some part of sequestration will go through. but using aircraft carriers against the republicans. they will fold. rick: we are three weeks away from what could be painful budget cuts. they kick in automatically march 1. we'll tell you what americans find so taxing about the president's plan to fix the mess. martha: get ready for a blizzard. a winter storm historic proportions we are being told. >> now is the time before the storm hits. get your shovels ready. sand, fill your gas tanks in your cars. make sure you have enough heating fuel. you know, for at least a week. sometimes life can be well, a little uncomfortable. but when it's hard or hurts to go to the bathroom, there's dulcolax stool softener. dulcolax stool softener doesn't make you go, it j
they have card to play they didn't have to play in the debt ceiling. martha: how do you expect that to play out? do you think they can hold the line on it and get significant spending cuts that a lot of folks in this country wanted to see first time around? >> republicans have become good at caving. i think some part of sequestration will go through. but using aircraft carriers against the republicans. they will fold. rick: we are three weeks away from what could be painful budget cuts....
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Feb 5, 2013
02/13
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ceiling. guess what? it's time to pay the piper. >>> it's been delayed once. the president can argue all the bad things will happen and the food will be unsafe and the nuclear weapons will get lost in russia or whatever else he'll say, but eventually this is a problem that can't just be outrun. >> well, and the white house, at least the president's version of the story is he didn't come up with sequester and there are questions as you mentioned about jack lew being the man who came up with this, that there's some connection to the administration. he said congress came up with it, it's their fault, they have to deal with it. something else he may talk about today is essentially this theme that the economy is poised to start growing this year. we know it didn't grow. in fact, it went in reverse the fourth quarter of 2012 and unemployment went up last week, so where are the green sprouts of growth? >> well, we've seen this movie before, haven't we? every time it looks like things are getting read
ceiling. guess what? it's time to pay the piper. >>> it's been delayed once. the president can argue all the bad things will happen and the food will be unsafe and the nuclear weapons will get lost in russia or whatever else he'll say, but eventually this is a problem that can't just be outrun. >> well, and the white house, at least the president's version of the story is he didn't come up with sequester and there are questions as you mentioned about jack lew being the man who...
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Feb 8, 2013
02/13
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there was an agreement made a year-and-a-half ago that he would get a debt ceiling increase and there would be a $1.20 trillion cut. the super committee was supposed to put it together. they were supposed to prioritize. they were selects members of the congress who were supposed to prioritize. they did not do it. know when they might not do it, congress said we will put something in here that is so draconian and so stupid that nobody would let it happen. lo and behold, that is what we are dealing with. that is a sad state of affairs from the political process, a very sad state of affairs. now we come back and say, what should we do with sequestration? the president talks about cows balance and fairness. -- talks about balance and fairness. there was $4 in spending for every $1 in tax increases. as we went along, the discussion shifted. as election prospects rose and fell, the balance suddenly became $2 to $1. after the election, the talk was $1 to $1. after we saw the deal done, it was zero spending cuts for the tax increases. now we are hearing negative to $1. the president wants to
there was an agreement made a year-and-a-half ago that he would get a debt ceiling increase and there would be a $1.20 trillion cut. the super committee was supposed to put it together. they were supposed to prioritize. they were selects members of the congress who were supposed to prioritize. they did not do it. know when they might not do it, congress said we will put something in here that is so draconian and so stupid that nobody would let it happen. lo and behold, that is what we are...
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Feb 1, 2013
02/13
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i think the debt ceiling went like groundhog day. it's like this time we're going to have this debate. then at midnight on new year's eve we pass a bill and give senators six minutes to reid it before it goes and we've now avoided the fiscal by kicking the can down the road which now we passed a bill to push off until may the reckoning for the debt ceiling. nobody has come to the table to try to fix things. i say the senate hasn't actually passed a budget. the president and democrats haven't passed a budget in four years. there is a fundamental inability for congress to do their job. you are supposed to pass a budget by april 15. you are supposed to reconcile all those bills by october. that hasn't happened in four years. instead we've had this crisis atmosphere where things are passed in the middle of the night and nothing gets done. >> we only look at law makers records as they pertain to gun related issues. the numbers in the house and numbers of the senate haven't changed so much from the previous congress but there are faces tha
i think the debt ceiling went like groundhog day. it's like this time we're going to have this debate. then at midnight on new year's eve we pass a bill and give senators six minutes to reid it before it goes and we've now avoided the fiscal by kicking the can down the road which now we passed a bill to push off until may the reckoning for the debt ceiling. nobody has come to the table to try to fix things. i say the senate hasn't actually passed a budget. the president and democrats haven't...
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Feb 1, 2013
02/13
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. >> whited lawmakers decided his best to delay the debt ceiling? >> about two weeks ago they tried in 2011 to use the debt and then as a leverage point to force obama to swallow spending cuts. it worked, but it is terribly damaging to the nation's economy and their political capital. with something like 90% in august of 2011 and they recognize this is a bad idea. thing is a pretty bad idea of a downgrade for the first time. they didn't want to do that again, but they didn't want to vote for a thicker national debt either. that doesn't care what their philosophy to pick them up with a strategy and in the meantime we want the senate to pass a budget for 2014 and the law says if either chamber fails a budget, paychecks will be docked. the whole idea is to postpone the economy default situation until the prosecutor at the continuing fight over taxes and then made to a point where both sides are satisfied in the debt limit can be raised again. >> how a template of a increasing the deficit in effect the economy and financial markets? >> where do you know
. >> whited lawmakers decided his best to delay the debt ceiling? >> about two weeks ago they tried in 2011 to use the debt and then as a leverage point to force obama to swallow spending cuts. it worked, but it is terribly damaging to the nation's economy and their political capital. with something like 90% in august of 2011 and they recognize this is a bad idea. thing is a pretty bad idea of a downgrade for the first time. they didn't want to do that again, but they didn't want to...
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Feb 2, 2013
02/13
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i think the debt ceiling went like groundhog day. it's like this time we're going to have this debate. then at midnight on new year's eve we pass a bill and give senators six minutes to reid it before it goes and we've now avoided the fiscal by kicking the can down the road which now we passed a bill to push off until may the reckoning for the debt ceiling. nobody has come to the table to try to fix things. i say the senate hasn't actually passed a budget. the president and democrats haven't passed a budget in four years. there is a fundamental inability for congress to do their job. you are supposed to pass a budget by april 15. you are supposed to reconcile all those bills by october. that hasn't happened in four years. instead we've had this crisis atmosphere where things are passed in the middle of the night and nothing gets done. >> we only look at law makers records as they pertain to gun related issues. the numbers in the house and numbers of the senate haven't changed so much from the previous congress but there are faces tha
i think the debt ceiling went like groundhog day. it's like this time we're going to have this debate. then at midnight on new year's eve we pass a bill and give senators six minutes to reid it before it goes and we've now avoided the fiscal by kicking the can down the road which now we passed a bill to push off until may the reckoning for the debt ceiling. nobody has come to the table to try to fix things. i say the senate hasn't actually passed a budget. the president and democrats haven't...
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Feb 5, 2013
02/13
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the guy who helped craft the debt ceiling plan. when he puts out that budget that is the document republicans have to run on the next two years because it has severe spending cuts on the domestic side because they have to balance the budget in ten years, a mighty task because they don't want to raise taxes. >> he has no interest in the sheer grind of campaigning. it's hard to see him having what it takes to run for president in 2016. is that even in his mind? is that a possibility for him? >> i don't think he's ever rule it out having been the veep last time and having national statutostature and i do think you have to wapt badly and willing to go for two years that state to state, talking to folks at the grassroots and i don't think he really likes that. likes the idea of spending some time with his family and work the halls of congress. the next two years are about austerity for the republican party. that would be really tough to run for president trying to partially privatize medicare and cut domestic spending across the board.
the guy who helped craft the debt ceiling plan. when he puts out that budget that is the document republicans have to run on the next two years because it has severe spending cuts on the domestic side because they have to balance the budget in ten years, a mighty task because they don't want to raise taxes. >> he has no interest in the sheer grind of campaigning. it's hard to see him having what it takes to run for president in 2016. is that even in his mind? is that a possibility for...
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Feb 7, 2013
02/13
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he voted against the debt ceiling deal. he is a fiscal conservative. at the same time, on an issue like immigration, because the personal becomes political in his case. he is looking at what is best for america in terms of bringing these folks, many of whom didn't come here, you know, on their own steam, came here as young children. these people are americans just the way his family was. i mean, turns out that his grandfather was an undocumented immigrant. and because of special legislation that we have regarding cubans, the 1966 cuban refugee law, you know, he was allowed to become a citizen. so he is the beneficiary of this. he knows that we, of course, are a nation of immigrants. i think it will move him more towards the middle and move him as a person who can reconcile left and right. >> speak offing of immigrants, what is the back story -- i know there was cloudiness early on about his story about his family, about his upbringing. what have you cleared up there? >> well, michael grunwald wrote our story, and he cites this biography of came out on
he voted against the debt ceiling deal. he is a fiscal conservative. at the same time, on an issue like immigration, because the personal becomes political in his case. he is looking at what is best for america in terms of bringing these folks, many of whom didn't come here, you know, on their own steam, came here as young children. these people are americans just the way his family was. i mean, turns out that his grandfather was an undocumented immigrant. and because of special legislation...
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Feb 8, 2013
02/13
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ceiling, we'll talk about that stuff. but we'll talk about it from the perspective on how we're making sure someone works hard in this country. a cop, teacher, a construction worker, or a reception worker, they can make it if they work hard. their kids can make it and dream bigger dreams than they have achieved. obviously, a lot of what we'll be working on over the next few weeks is going to be on how do we deal with this sequester issue. i want to make this quick point. i had a press conference this week in which i reiterated that i'm prepared, eager, and anxious that ends this government by crisis that every two week or every two months or every six months we are threatening this hard recovery, are finally housing is picking up and real estate is doing better and unemployment numbers are still too high. we're seeing job growth and manufacturing is doing well and we continue to have these self- inflicted crisis here in washington where suddenly someone taps the brakes. what i said this week was i want to do something big
ceiling, we'll talk about that stuff. but we'll talk about it from the perspective on how we're making sure someone works hard in this country. a cop, teacher, a construction worker, or a reception worker, they can make it if they work hard. their kids can make it and dream bigger dreams than they have achieved. obviously, a lot of what we'll be working on over the next few weeks is going to be on how do we deal with this sequester issue. i want to make this quick point. i had a press...